Greene Ltd has a policy of revaluing its property, plant and equipment. A building cost 150,000 on 1 January 2008, had a useful life of 15 years and is depreciated on a straight-line basis with a nil residual value. The asset was revalued upwards to 200,000 on 1 January 2013. However, following flood damage to the building, on 31 December 2016 the building was assessed by professional valuers and deemed to be valued at 50,000. The accounting entry at the